State Comptroller Tom DiNapoli is reviewing the New York pension fund’s investments in firearms manufacturers following the Newtown, Conn. massacre, a spokesman confirmed today.

“What happened in Newtown last week was a tragedy of an unimaginable scope,” Eric Sumberg said. “In the aftermath of Friday’s events, Comptroller DiNapoli has instructed his staff to review the Common Retirement Fund’s investments in firearm manufacturers.”

Sumberg also said DiNapoli, who is the sole trustee of the $150.1 billion fund, supports Cerberus Capital Management’s decision to sell its stake in the Freedom Group, which makes the AR-15-type Bushmaster rifle used in the attack last Friday at the Sandy Hook Elementary School. The fund committed $50 million to Cerberus in 2007.

The fund has been an investor with Cerberus. Its current gun-related holdings include:

- Smith & Wesson Holding Corporation: 162,600 shares with market value of $1.5 million.

- Sturm Ruger & Company: 45,325 shares with market value of $2.1 million.

- Alliant Techsystems Inc: 151,827 shares with market value of $9.3 million.

DiNapoli is not alone in undertaking such a review.

Massachusetts Treasurer Steve Grossman has directed his state’s $50 billion pension fund to conduct a review, too, although he stopped short of calling for divestment in gun companies. According to the AP, Grossman said it’s his duty to maximize investment returns for retirees, but he also needs to balance that responsibility with representing what he called the “values” of Massachusetts residents.

The nation’s largest teachers’ pension fund in California, which manages $155 billion in assets, announced that it was reviewing its firearms holdings after determining it had invested $600 million in Cerberus.

Most notably, given that she’s working in the state where the Newtown tragedy took place, Connecticut Treasurer Denise Nappier has also called for a review.

UPDATE: Also, as per the DN:

A spokesman for City Controller John Liu said the city pension funds, which are valued at $127.8 billion, currently hold nearly $18 million combined in stocks for Smith & Wesson, Forjas Taurus, Olin Corp., and Sturm, Ruger & Co.

“We are currently conducting a review of our holdings and aggressively exploring all options, including divestment,” Liu spokesman Matthew Sweeney said.